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As Trump celebrates Carrier deal, other workers still face job losses

From the scant details about the actual deal between Trump and Carrier, it's clear the state of IN will be offering the company at least $ 7 million IN benefits. Joe Donnelly has been working on a plan to help save the jobs at Carrier. The deal differs from most other economic development agreements in IN, where incentives are usually aimed at bringing in jobs, not retaining them.

Business

Trump Will Decide 'Day by Day' on Intervening With Companies, Pence Says

The companies operate factories about one mile apart on the city's west side. Additionally, the situation may signal how the new administration will handle company incentives and the like, meaning employers will need to pay attention. Carrier has agreed to retain at least 1,069 jobs - 300 of which already were slated to remain in IN - for 10 years at an average salary of $30 per hour.

Business

Tropical Storm Otto forms in Caribbean

It also is about 190 miles (305 kilometers) east-southeast of San Andres Island. Late Tuesday afternoon, the hurricane had top sustained winds of 120 kilometres per hour and was moving westward at 4 km/h, the USA hurricane centre said. Tropical storm Otto has become a Category 1 hurricane in the southwestern Caribbean, according to a report from the U.S. National Hurricane Center ( NHC ) issued at 2:46 p.m.

Business

Court hearing of historic Brexit case starts in London

Attorney general Jeremy Wright told the 11 judges that the high court was wrong to rule that MPs must have their say before the government triggers article 50 of the Lisbon Treaty , which starts formal Brexit negotiations. The Attorney-General of England and Wales, Jeremy Wright, then went on to lay out the governments stand that it was for "ministers to make or break foreign treaties".

Business

Trump Warns US Companies: Export Jobs, Get 35% Tax

President-elect Donald Trump doubled down on his threat against USA businesses that send jobs overseas on Sunday, declaring it an "expensive mistake" and warning of a huge tax if companies try to sell foreign-made goods in the U.S. Because production of a fan coil is still being moved to Monterrey, Mexico, more than 500 jobs are still at risk. Carrier could still face the taxes Mr.

Business

Man fatally stabs girlfriend in the neck in Queens

The victim, who police have only identified as a woman in her 30s, was stabbed shortly after midnight Sunday in the South Richmond Hill section of the borough. Brown said. She was rushed to the hospital, where she was pronounced dead. Witnesses told investigators that they saw Rampersaud sawing through his wife's neck, police said.

Business

US Army denies DAPL easement, AFPM responds to decision

The American Petroleum Institute, which represents the US oil and natural gas industry, urged Trump to make approval of the disputed pipeline a "top priority" once he takes office next month, but a Trump spokesman on Monday offered few clues about how the incoming president might address the matter.

Business

United States unemployment rate hits nine-year low

USA employers maintained their steady pace of hiring in November while the unemployment rate dropped to its lowest level in more than nine years. And there are people of all colors waiting in the wings outside the labor force as well, a cohort labeled "missing workers" by the Economic Policy Institute, which says they would be employed in a healthier economy.

Business

Higher oil prices a risk to India's growth trajectory: Pradhan

Kachikwu told a ministerial session of Petrotech 2016, the 12th worldwide conference on oil and gas organised by the Ministry of Petroleum and Natural Gas with the flagship state-owned Indian Oil Corporation Limited (IOC). "Indian energy companies must become multinational and work towards India-Middle East, India-Central Asia, and India-South Asia energy corridors". For energy access, Modi said that the Government launched the Ujjwala programme to provide 5 crore families free LPG ...

Business

Trump again threatens big tariffs on United States companies that export jobs

President-elect Donald Trump is known for reposting or retweeting some of his supporters thoughts and views via social media. "There will be a tax on our soon to be strong border of 35 per cent for these companies wanting to sell their product, cars, A.C.

Business

Could Dakota Access pipeline move after permit is denied?

That could include directing the secretary of the Army to reinstate a previous permit for the reservoir crossing, or issuing an executive order approving the pipeline. The institute represents the US oil and natural gas industry. Many people warned that work on the pipeline could begin again in early 2017 once Donald Trump is sworn-in as president.

Business

Dubai crude climbs to 2016 high on OPEC deal

The price of a barrel of benchmark US (WTI) took 1.62 dollar to 51.06 dollars on the contract for January delivery on the New York Mercantile Exchange (Nymex) and thus signed, following a jump of more than four dollars, an increase of about 13% over the last two sessions.

Business

OIC wants Myanmar to stop violence and restore calm in Rakhine state

Since winning a historic election past year, Aung San Suu Kyi has hardly spoken out on the issue. Najib also urged the United Nations and the Organization of Islamic Cooperation to take more serious roles in the Rohingya crisis, asking Indonesian President Joko "Jokowi" Widodo, among others, for support.

Business

Trade group appeals to Trump to approve pipeline

Native American veterans join an interfaith ceremony at the Oceti Sakowin camp where people have gathered to protest the Dakota Access oil pipeline in Cannon Ball, N.D., Sunday, Dec. In a late-November clash between police and protesters near the path of the pipeline, officers used tear gas, rubber bullets and large water hoses in freezing weather.

Business

Trump threatens payback for United States companies that move overseas

President-elect Donald Trump tweeted Sunday that he'll impose a 35% tax on USA companies that move jobs or operations to other countries - after announcing a deal with Carrier to keep 1,000 manufacturing jobs in the United States. They wouldn't apply to foreign firms that ship goods to the U.S. "Tariffs are one thing", Wolfers tweeted. Carrier can pay workers in Mexico about the same per day as it pays in workers per hour.

Business

TOP NEWS Austria's Green Party Beats Far-Right Rival In Election

Sunday's vote was the country's second attempt to conduct the presidential runoff this year. In May, Van der Bellen, a former Green Party leader, defeated Hofer by little more than 30,000 votes in a tightly fought contest decided by mail-in ballots.

Business

Dawson says he voted for Selig for Hall

The Today's Game Era Committee held meetings today in Washington, D.C., site of Baseball's Winter Meetings. Selig received 15 out of 16 votes, while Piniella received seven votes. A protégé of Detroit owner John Fetzer, he became chairman of the owners' Player Relations Committee in the early 1980s and directed strategy at a time owners were found to have colluded against players during three off-seasons, leading teams to pay players a $280-million settlement.

Business

Donald Trump's gift to Carrier Corp

Trump turned his account to more serious matters of American business. It didn't take long to get to the stick: "but any business that leaves our country for another country, fires its employees, builds a new factory or plant in the other country, and then thinks it will sell its product back into the U.S, without retribution or effect, is WRONG!" Thus, a win-win: The company gets enriched while outsourcing as planned, and Trump gets to unleash another grandstanding barrage of tweets to ...

Business

Sarah Palin: Trump's Carrier deal is 'crony capitalism'

He has also promoted lower corporate tax rates as a means of keeping jobs in the U.S. In a posting on Twitter , he said there would be consequences like a 35% import tariff "for these companies wanting to sell their product, cars, A.C.

Business

Will Italy's political drama spawn a new eurozone crisis?

It's not just about Italy. "I was among them", he said. "The post that gets eliminated is mine". Still, he hinted at worries that Italy's Monte dei Paschi de Siena bank was one step closer to possible failure in the wake of Renzi's resignation.

Business

Palin slams Carrier deal as 'crony capitalism'

Trump tweets "there will be a tax on our soon to be strong border of 35 percent for these companies wanting to sell their product, cars, A.C. units, etc., back across the border". Tim Mathis works at Indianapolis's Rexnord , which also announced recently it will send almost 300 jobs to Mexico. I'm not an economic expert, but $7 million for 800 jobs seems like a really bad deal to me.

Business

Far-right candidate defeated in Austria's presidential poll

Partial results after the polls closed Sunday showed Van der Bellen with 53.3 percent of the vote and Hofer with 46.7 percent. Mr Hofer was gracious in defeat , congratulating the new president less than half an hour after the first exit polls were released.

Business

Trump picks Twitter fight with China

US President-elect Donald Trump fired a Twitter broadside at China on Sunday, accusing the Asian giant of currency manipulation and military expansionism in the South China Sea. After all, the Tsai administration had wanted to be discreet about the phone call with Trump. As of now Trump has welcomed the Chinese anger by talking to Taiwan's President Tsai Ing - Wen when she called to congratulate the US President Elect Trump.

Business

Recount to start Thursday; Stein request for hand tabulation denied

Kobylski said it's unlikely the recount will show a major change in election totals. University of MI computer scientist Alex Halderman, who said voting machines and optical scanners which count ballots are prone to errors and outside manipulation, told reporters that the recount will show "for sure" whether cyber attacks have occurred.

Business

Unemployment falls but that likely means a Fed rate hike

The data suggests the Federal Reserve is all but certain to raise interest rates later this month and may have to move rates at a faster pace and higher than markets now expect. Construction employment increased by 19,000 jobs last month after rising by 14,000 in October. The lower number, however, represented a higher unemployment rate (4.3 percent vs.

Business

Italy expected to retain key "broker" role on Brexit if Renzi quits

The proposed reforms have no relation to sovereign debt or economic policy, but with Renzi staking his premiership on the outcome of the vote it has become a flashpoint for financial markets. "If the "No" wins, Renzi will be definitely weakened". Italy is the eurozone's third-largest economy but most ordinary Italians, particularly those living in the south, still struggle to get by.

Business

OPEC Production Cut Sends Gas Prices Upward - for Now

The latest data on Russian output recorded a further increase to a post-Soviet high of 11.23mn bpd for November and Russia will use this figure as the basis for a cut of up to 0.3mn bpd agreed as part of the proposed OPEC deal with non-OPEC producers.

Business

Bank of England yields to vegan pressure over plastic fivers

Vegans were dealt a fresh blow today as the Bank of England confirmed that the new £10 notes, which come into circulation next year, will also contain animal fat . Central banks have been switching to polymer cash in recent years because the flexible material resists dirt and lasts longer than paper cash. Since then, over 65,000 people have signed an online petition asking for tallow to be removed from the notes.

Business

New stock link upgrades opening up of mainland's capital market

Ceremonies were held simultaneously today at Hong Kong and Shenzhen bourses via video link as Hong Kong Exchanges and Clearing Chairman Chow Chung-kong and Hong Kong Chief Executive Leung Chun-ying jointly beat a gong to mark the launch. On the Shanghai board, it's the reverse, she said. The market of A-shares, or mainland's local currency shares, has been characterized by frequent trading and high velocity, but a market driven by institutional investors would be more rational and less ...

Business

Unemployment at lowest rate since Great Recession, thanks to seasonal retail jobs

The November job growth was an improvement from October's downwardly revised 142,000 figure. Alas, wage growth still remains mostly flat, with average weekly earnings up only 2 percent (or thereabouts) over the preceding 12 months. Last week, the Commerce Department reported that the economy grew faster in the third quarter of the year than initially estimated. Retail sector payrolls, reflecting the move by Americans to purchasing goods online, fell 8,300, their second straight monthly ...

Business

Protest against the Adani Carmichael coalmine approval

The rail section approved this week will form part of the 389 kilometre heavy haul railway line from the mine in the Galilee Basin to the coal export Port of Abbot Point. It also involves dredging an area near the Great Barrier Reef Marine Park. The 45km open cut and underground coal mine in the Galilee Basin, including six open-cut pits and five underground mines, will be one of the biggest in the world and operate for up to 90 years.

Business

Paul Ryan: ObamaCare repeal will be first priority

One issue unites Republicans above all others: antipathy toward President Obama's signature health care law, the Affordable Care Act . And it outpaced overall economic growth in 2015, making health care an even larger share of the US economy.

Business

Trump Takes Twitter Aim at Companies Looking to Move Jobs Abroad

He then slammed another IN manufacturer, Rexnord, for moving 300 positions south of the border. He noted: "This is happening all over our country". President-elect Donald Trump wrote a series of tweets early Sunday morning in which he threatened "retribution" in the form of a 35 percent tariff on USA companies that move overseas.

Business

North Dakota pipeline protesters vow to stay despite victory

The Standing Rock Sioux Tribe say it is on land that belongs to them according to an 1851 treaty, and that construction will damage sacred sites and could contaminate their water. The group had said about 2,000 veterans were going to the camp, where several hundred people have for months protested the $3.8 billion pipeline, but it wasn't clear how many actually arrived.

Business

Suu Kyi must stop Rohingya 'genocide'

Suu Kyi insisted Friday that the government wants to make the relationship between ethnic Rakhine Buddhists and the Muslim minority "better", but accused the worldwide community of not adopting a constructive stance on the "highly sensitive and delicate" issue.


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